Swan Retail acquires rival Touchretail
Retail software provider Swan Retail has acquired rival Touchretail.
The deal sees Swan expand its customer base to more than 500 companies and lift turnover above £6m.
‘Touchretail adds an established and innovative cloud-based retail management and EPoS solution that includes a suite of add-on functionality including warehouse management, loyalty and third-party system integration with mainstream accounts packages and web providers,’ says David Thompson, Swan Retail md.
Touchretail will continue to operate from its Staffordshire headquarters where it employs 16 people, giving Swan a fifth UK office and 93 employees. Touchretail will also integrate to Swan’s Cygnus EPoS platform, which is due for launch in September.
‘By adding Touchretail to the group, we have ensured we have a solution for every size of retailer across almost every sector. We’re extremely excited about this acquisition. Every acquisition or business decision is a strategic one and the strategy behind this deal was to add a like-minded and forward-thinking organisation that had a significant foothold within cloud-based retail solutions. Touchretail has a broad range of users within fashion and leisure and our overall group offer will only become stronger with Touchretail on board,’ says Thompson.
‘We’ve grown this business from the ground up and have an enormous amount of pride in what we have achieved,’ says Stuart Francis, Touchretail md. ‘We have always known about and respected Swan Retail as a leading player within the retail systems market, so the acquisition was not a difficult one to consider and commit to. We’re excited about the next stage of our journey and what we can achieve together as part of a larger entity.’